WASHINGTON — U.S. regulators proposed new rules Wednesday that would require public companies to disclose the pay gap between chief executives and rank-and-file employees, a controversial requirement that thrusts executive compensation into the spotlight.

A divided Securities and Exchange Commission voted 3-to-2 to float a less onerous measure from what the SEC was ordered to adopt in the 2010 Dodd-Frank financial law, giving companies flexibility in how they calculate the ratio to cut back on its expected costs.

Labor unions and other supporters say requiring companies to publish the ratio will pressure corporate boards to slow pay increases for chief executives. Republican commissioners and other critics say it seemed designed to affect the behavior of company boards rather than to provide useful information to investors.

Luis Aguilar, a Democrat on the commission, said he hopes the disclosures will help company shareholders and directors counter a perceived tendency of overpaying chief executives.

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"The optics are so obvious to so many people in this era of #MeToo," Steven Silvers said of Innovation Pavilion. "Their response to this crisis is going to have a far lengthier and more damaging effect on the company than if they handled it more directly."